Hello Wildomar, I’m Cindy Jones reporting for Wildomar News. Today we’re joined by local expert Steve Bliss of Wildomar Probate Law. Steve, thanks for joining us.
Understanding Trusts
Steve, many people hear the word “trust” and immediately think it’s only for the wealthy. Can you help clarify what a trust is and why it might be beneficial for everyday people?
That’s a common misconception, Cindy. A trust is simply a legal arrangement where someone, called the grantor, transfers assets to another entity, the trustee, to manage those assets for the benefit of specific individuals or entities, known as beneficiaries.
Trusts are incredibly versatile tools that can address a variety of estate planning needs. For instance, they can help avoid probate, which is a lengthy and public court process, while also ensuring your assets are distributed according to your wishes.
Exploring the Special Needs Trust
Let’s delve into a specific type of trust – the Special Needs Trust (SNT). Why might someone choose an SNT, and what are its key advantages?
An SNT is designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for crucial government benefits like Supplemental Security Income (SSI) or Medi-Cal. Ordinarily, if someone with a disability receives a large inheritance or gift, it could disqualify them from receiving these vital programs.
A SNT acts as a safeguard, allowing the beneficiary to receive necessary care and support without affecting their access to government assistance. The trustee manages the funds and uses them for supplemental needs like medical expenses not covered by insurance, therapy, adaptive equipment, or recreational activities that enhance the individual’s quality of life.
Furthermore, SNTs can be structured as either first-party (funded with the beneficiary’s own assets) or third-party (funded by family members or friends). This flexibility allows for tailored solutions based on each individual’s circumstances.
Navigating Challenges and Making a Difference
Steve, have you encountered any particular challenges when setting up SNTs? Can you share an example of how these trusts have made a positive impact?
We’ve had situations where families were initially hesitant to create an SNT because they worried it would be complex or costly. I remember one family, their son with Down syndrome was incredibly talented in art and music. But he needed ongoing support for his living expenses. Setting up the SNT allowed them to ensure he had access to both essential care and the opportunities to pursue his passions without jeopardizing his benefits. Seeing the joy on their faces when they realized their son could thrive independently was truly rewarding.
The Importance of Careful Planning
According to a recent study by the Special Needs Alliance, over 60% of individuals with disabilities rely on government assistance for basic needs. Consequently, having a well-crafted SNT in place can be crucial for their long-term wellbeing.
Seeking Expert Guidance
Steve, what advice would you give to families considering a Special Needs Trust?
The most important thing is to consult with an experienced estate planning attorney who specializes in special needs trusts. They can assess your unique situation and guide you through the process of establishing a trust that meets your loved one’s specific needs.
Don’t underestimate the importance of careful planning and legal counsel when it comes to protecting the future of someone with a disability. Remember, Wildomar Probate Law is here to help.
Testimonials
“Steve Bliss and his team made setting up a trust for my daughter so much easier than I expected. They were patient, compassionate, and answered all our questions thoroughly.” – Sarah M.
“I was initially overwhelmed with the complexities of estate planning, but Wildomar Probate Law provided clear guidance and personalized solutions that gave me peace of mind knowing my family’s future is secure.” – Michael T.
Take control of your legacy. Contact Wildomar Probate Law today for a free consultation and discover how we can help you create a brighter future.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “How do I choose a trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Estate Lawyer Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Near Me Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Estate Lawyer Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Near Me Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Estate Lawyer Near Me in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |